The following 10 metropolitan areas, with their growing populations, economic strengths, and attraction to many small businesses, are also the top 10 ideal cities for immigrants. In some of these areas, there is no corporate income tax and the cost of living is low.
No. 10: New York, NY New York
Metro Population: 19,069,796
Number of Small Businesses: 526,063
Corporate Income Tax: 7.1%
Ben High, New York City's metro ratio of 27.73 small businesses per 1,000 residents outpaces other large cities . According to Martin of the Institute for Prosperity, "High population density has the effect of favoring the operation and growth of small businesses." In addition, New York City has a number of business resource centers, the New York Public **** Library and the Citigroup Foundation offer awards totaling more than $30,000 to entrepreneurs who sponsor their businesses.
Ninth: Washington, D.C.
Metro Population: 5,476,241
Number of Small Businesses: 137,564
Corporate Income Tax: 9.975%
Population growth and public **** department support encourage new business in Washington's capital city, which between 2013 adding nearly 30,000 private sector jobs between 2013 and 2014, far exceeding national trends. The city is also a magnet for highly educated employees, with the highest percentage of graduate degrees and dual degrees in the nation. Free start-up and employee training assistance is available for high-tech businesses, supermarkets and nonprofit organizations.
No. 8: Denver, Colorado Denver
Metro Population: 2,552,195
Number of Small Businesses: 73,406
Corporate Income Tax: 4.63%
With a population growth of up to 46,000 in 2014, Denver has a young and vibrant local business climate. Since 2008, Colorado has simplified its corporate income tax structure, and the city has seen an influx of startups that haven't suffered much, even with the economic crisis.
Seventh: Raleigh, North Carolina Raleigh
Metro Population: 1,125,827
Number of Small Businesses: 28,524
Corporate Income Tax: 6.9%
Raleigh is the 45th largest city in the U.S., with industries that include banking and financial services, electrical and electronics, communications equipment, medical, apparel, food processing, paper products, and pharmaceuticals. North Carolina State University is located in the city. Raleigh has been recognized by Forbes magazine as America's Best City for Jobs. Raleigh's business and technology centers are a haven for entrepreneurs, and the area provides incentives for new businesses, offering programs such as grants, incentives, and loans.
Sixth: Tulsa, Oklahoma Tulsa
Metro Population: 929,015
Number of Small Businesses: 24,087
Corporate Income Tax: 6%
Tulsa's small business ownership rate of 26.29 per 1,000 residents is nearly 10% above the national average. The main reason for this is its business-friendly environment and low costs, which attract many entrepreneurs to invest. Many Oklahoma industries currently make their home in Tulsa, including aerospace, telecommunications, manufacturing, construction, high-tech, healthcare, education, and transportation.
Fifth: Austin, Texas Austin
Metro Population: 1,705,075
Number of Small Businesses: 39,180
Corporate Income Tax: 0%
Austin, for the second year in a row, has been ranked by the Business Journal as the best place to start a business. has three key strengths, including population growth (20 percent from 2009 to 2014), employment (9.5 percent job growth in 2013 and 2014), and small business growth (1.5 percent growth from 2013 to 2014). Austin's cost of living is lower than the national average, and the University of Texas and high-tech industries provide the area with innovation and a large, higher-educated workforce. Creativity, too, is a factor in Austin's success. In addition, Texas has no personal or corporate income tax. The business franchise tax ranges from 0.5% to 1.0%, with an exemption for income up to $300,000.00 All other state and local business taxes are below the national average.
Fourth: Charlotte, North Carolina Charlotte
Metro Population: 1,745,524
Number of Small Businesses: 44,658
Corporate Income Tax: 6.9%
Charlotte's population has grown by 18.6% in the past five years, largely due to the contribution of the small business environment. The nonprofit Business Council to create an environment that attracts high-impact and high-growth entrepreneurs to grow. In addition, a program of matching funds grants provides assistance in counseling and advocacy for entrepreneurs. North Carolina offers tax credits, startup funds and grants, and ranks among the lowest business taxes in the nation.
Third: Charleston, South Carolina Charleston
Metro Population: 659,191
Number of Small Businesses: 16,806
Corporate Income Tax: 5%
Charleston has always encouraged entrepreneurship by helping businesses to grow and access capital. The Charleston City Council has launched an Entrepreneur's Center that offers business development classes, coaching, networking events, and access to retired or semi-retired top executives willing to work as consultants to small businesses. The city also offers employee recruitment and training programs, as well as sales tax exemptions that reduce a business's annual operating costs.
No. 2: Oklahoma City, Oklahoma Oklahoma City
Metropolitan Population: 1,252,987
Number of Small Businesses: 32,251
Corporate Income Tax: 6%
Generally speaking, the capital cities of U.S. states tend to be less than the number one city, but Oklahoma City is an exception. Oklahoma City has experienced 0.4% small business growth over the past 12 months and has the third highest job growth in the nation. Additionally, Oklahoma City's low cost of living and the large number of investors in the local oil and gas industry help drive small business economic development. Oklahoma has 52 business-certified assistance services that provide rental space and administrative services for new businesses. There are also business production, research and development tax credits that have brought many startups to the area.
First Place: Seattle, Washington Seattle
Metropolitan Population: 3,610,105
Number of Small Businesses: 97,473
Corporate Income Tax: 0%
The Greater Seattle area has long been recognized by all for its quality of life and international competitiveness. These strengths are reflected in its strategic geographic location; state-of-the-art manufacturing capabilities and facilities; advanced technology community; cooperation among technology industries; diverse economic base (from agriculture to services to international trade); high quality education and health care systems; highly qualified employees; rich and varied cultural and recreational activities; and the overall quality of its residents and their open-mindedness. Seattle leads metropolitan areas in the number of startups and innovation environment. Like Texas, Seattle does not have any personal or corporate income tax and has no state capital gains tax. The state offers sales tax incentives for biofuels, offers research and development, manufacturing, food processing, and technology and aerospace industries that have helped build Seattle's entrepreneurial environment, and also has local employee training programs.